Carrefour: under review by Invest Securities
(CercleFinance.com) - Invest Securities has put its opinion on Carrefour under review (against neutral) and has suspended its target price (against 14.
5 euros), as risk-reward is becoming difficult to gauge.
The analyst says that Costco refused to team up with Carrefour in the distant past.
Even Walmart had given up investing in the French market, which was considered as being too complicated. And today they want to introduce us to a Canadian player, which is largely unheard of in Europe, although which is sufficiently interested in Carrefour to woo it and make an offer, on its own initiative, Invest Securities says.
There were dozens of potentially suitable targets in the US, the Canadian group's main outlet, to enable it to activate growth sources... And in the end it appears to have chosen Carrefour for the soundness of its strategy and results, the analyst adds.
He says it's hard to believe: from our viewpoint, this operation should not be carried out and we share the vision of the Minister of the Economy. It's also astonishing that Carrefour has not integrated this strategic variable.
After first leaping on the news earlier in the week, the Carrefour share is down almost 4% on Friday morning.
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